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Liquidity/Withdrawals

FOREVER MARKETS

Withdrawals

Asynchronous, FIFO withdrawals protect remaining LPs from forced or preferential sleeve exits.

2 min readUpdated Aug 27, 2026Capped beta

Withdrawal flow

  1. 01
    Request

    Shares leave the available balance and enter the FIFO queue.

  2. 02
    Wait one day

    The request becomes executable after the fixed 24-hour delay.

  3. 03
    Execute

    Any caller may execute the head request up to available free liquidity.

  4. 04
    Receive USDG

    The request burns shares at execution-time conservative NAV.

Proportional sleeve recall

Idle USDG is used first. If more liquidity is needed, the vault recalls free capital proportionally across liquid sleeves rather than draining the first market in the portfolio.

A request can execute partially when some capital remains reserved for open risk. The rest stays at the head of the queue.

Execution-time NAV

A pending request can be cancelled before execution, returning the remaining shares to the owner.

A request does not lock its USDG value

Queued shares redeem at the conservative NAV when executed. Trading PnL, fees, funding and losses can change value during the delay.